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0 <br />AMENDMENT NO. 2 TO SECURITY AGREEMENT <br />DEBTOR: BOULDER AND WHITE ROCK DITCH AND RESERVOIR <br />COMPANY <br />SECURED PARTY: COLORADO WATER CONSERVATION BOARD <br />DATE OF ORIGINAL SECURITY AGREEMENT: FEBRUARY 13, 2009, AND AMENDED DECEMBER 15, <br />2009 <br />Original Promissory Note: $2,864,164, December 15, 2009, interest at <br />the rate of 3.45% per annum with annual <br />payment for a period of 30 years or until paid in <br />full. <br />ORIGINAL LOAN CONTRACT: C150279, DATED FEBRUARY 13, 2009, AND <br />AMENDED DECEMBER 15, 2009 <br />1. The Parties have amended the ORIGINAL LOAN CONTRACT and Promissory Note to <br />decrease the loan amount from $2,864,164 to $2,549,690.30 and hereby amend the <br />original Security Agreement to document the change of loan amount. <br />2. The Parties expressly agree that this Amendment is supplemental to the Security <br />Agreement and all terms, conditions, and provisions thereof, unless specifically <br />modified below, are to apply to this Amendment as though they were expressly <br />rewritten, incorporated, and included herein. <br />Amended Loan Contract: C150279, dated January 12, 2012 <br />Replacement Promissory Note: $2,549,690.30, dated January 12, 2012, interest <br />at the rate of 3.45% per annum with annual <br />payments for a period of 30 years or until paid in <br />full <br />Date of Amended Security Agreement: January 12, 2012 <br />DEBTOR: Boulder and White Rock Ditch and <br />Reservoir Company <br />SEAL <br />By <br />Julius Van Thuyne, Jr Pre i ent <br />ATTEST: <br />By <br />Dan Grant, Secretary - Treasurer <br />Appendix B to Loan Contract C150279 Amendment No. 2 <br />Page 1 of 1 <br />